China, driven by the functionality of social media and healthcare companies, today introduced 17 members of the Forbes Midas 2022 list.
The chinese residents’ organization, which combines those from the mainland and Hong Kong, once again ranked the United States this year. The number of applicants registered in China was 4 fewer than last year. (See the main points here. )
The expansion in venture capital financing and venture capital skill in the country underscores the biggest gains China has made in tech corporations and the global economy over the past two decades. The continent had 539 members on Forbes’ list of billionaires revealed this month, also just the United States. (See the similar post here. )
Neil Shen, the founding spouse of Hong Kong-based Sequoia China, ranked third this year, up from second in 2021. The billionaire’s successful investments come with TikTok’s parent company, ByteDance, and online fashion Shein. (See the similar post here. )
Shen is one of the two China-based investors in the top 10 smartest. The other number four, Richard Liu, founding partner of 5Y Capital (formerly known as Morningside Ventures), whose investments come from electric vehicle maker Xpeng.
Of the 17 Chinese members, they were women: Anna Fang, partner and CEO of ZhenFund (#12), Jenny Lee, managing partner of GGV Capital (#49), Nisa Leung, managing partner of Qiming Venture Partners (#61), Jing Hong, founding partner of Gaocheng Capital (#83), and Kathy Xu, founding partner of Capital Today (#98).
Elwin Yuan, spouse of 5Y Capital, the only newcomer from China, is ranked 78th.
Shanghai, which is lately facing business disruptions due to Covid lockdowns, is the No. 1 city for China-based venture capitalists to be on the new Forbes Midas list: seven members live there. (See the similar profile of the founding spouse #97 INCE Capital JP Gan here. )
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